We Have Sufficient Petrol To Meet 100% Of Nigeria’s Need – Dangote Refinery

According to Aliko Dangote, president of Dangote Industries Limited, there is enough Premium Motor Spirit in storage at the Dangote Petroleum Refinery to meet Nigeria’s local needs.

Dangote made the revelation at the weekend that the oil refinery’s tanks hold “more than 600 billion litres of petroleum and over 600 billion Naira of products.”

Dangote said”, …as we speak right now we have more than half a billion litres. The Refinery is producing enough refined products, like gasoline, diesel, and kerosene, to meet 100 per cent of Nigeria’s requirements.

Speaking after a tour of the Refinery complex by a Zambia Government delegation, led by the country’s Minister of Energy, Mr. Makozo Chikote, Dangote stated that the refinery project, like other projects in the past, is not for Nigeria alone.

“This refinery is not only for Nigeria, it is for Africa. The African Continental Free Trade Area (ACFTA) agreement must be maintained. We’re examining how trade with other African nations operates.

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The President, Aliko Dangote, is truly focused on the bigger picture for Africa, according to the Zambian Energy Minister of Energy during his working visit to the Dangote Refinery.

Chikote expressed his satisfaction and willingness to work with the African manufacturing powerhouse when he led a delegation of energy experts to the Dangote Petroleum Refinery to collaborate with Zambia on energy solutions.

After a tour of the Dangote complex at the Free Trade Zone, Ibeju Lekki, starting from the Single Point Mooring to the Dangote Jetty, the biggest fertiliser plant in Africa and the 650, 000bpd largest single-train refinery in the world, the Minister enthused that the presentation by the Vice President, Oil and Gas of Dangote Industries Limited, Mr. Edwin Devakumar, made their hearts” jump”. He claimed that the presentation addresses Zambia’s challenges.

The energy minister continued, “Zambia created a climate in which the private sector could contribute to our nation’s growth and development. Currently, 100 per cent of our petroleum is done by the private sector.

“We are targeting increased productivity in mining, agriculture, and other sectors. Our energy needs can be met immediately by your presentation. We are attempting to encourage competition between our private players.

” We are looking at Dangote coming on board, which would lead to efficient, reliable, quality, and competitive products, and we want these done like yesterday. “

” Coming to the Dangote Petroleum Refinery, we have learned so many advantages of bringing many players for competition, which has improved the lives of the citizens. “

According to him, “We must promote trade within Africa to promote each other,” he said. To make Africa a productive and trustworthy trade hub, we need these nations to work together.

We have seen in this case that Dangote’s actions can help us learn lessons, which would enable Africa and Africa to stand up for what they can and avoid relying on foreign assistance for trade. I think people will have learned a few things going forward. I learned from this visit that Dangote examines the larger picture of Africa.

Samuel Maimbo, the vice president of budget, performance, and strategic planning at the World Bank Group, who is currently running for the presidency of the African Development Bank (AfDB), another member of the delegation from Zambia, stated that the continent needs more development aid.

“Africa needs more government funding,” the statement continues. Working with the private sector is the only way to finance Africa’s growth at a pace and scale that solves our issue, he said, which is why we are here today to learn and see what an ambitious program will look like.

He added that the private sector alone can support Africa’s development.

Edwin Devakumar, vice president of Dangote Industries Limited, stated that the Refinery’s main business strategy is to produce the highest-quality goods.

The project idea was to add value to the crude imported from Nigeria. However, we also desired some flexibility in how much of the Middle Eastern and most of the African crudes are processed, according to Edwin.

He added “In another concept, what we did was maximum value extraction. Every barrel of crude that enters must have the best value addition, according to that process.

According to Edwin, “the Refinery can meet all our requirements. 44 per cent can meet the entire requirements of Nigeria, and 56 per cent of the production would be exported. Every day, we produce lighter products of 104 million litres, 57 million litres of petrol every day, 20 million litres of jet fuel, and 27 million litres of diesel production.

Source: Channels TV